HomeChannelsFeaturedVAT refunds record 107% growth

VAT refunds record 107% growth

Arabian Post Staff

The Federal Tax Authority (FTA) has processed more than 9,640 requests to recover Value-Added Tax (VAT) incurred by UAE nationals on building their new residences by September 2021 – more than 107.1% growth from the
figure reported in the first nine months of 2021 compared to the total number of processed requests until the end of 2020.

In a press statement, the Authority highlighted official statistics, which reveal that in the first nine months of 2021, over 4,984 applications from citizens requesting a refund of the VAT they incurred on building their new residences were approved, up from the 3,147 requests completed in 2020, 1,399 applications processed in 2019, and just 110 requests in 2018 – the year the VAT Refund Scheme for UAE Nationals Building New Residences was launched.

FTA Director General  Khalid Ali Al Bustani attributed the massive growth in the number of citizens benefiting from the scheme to the developments the Authority has made to the process and the wide-reaching awareness campaigns it has implemented since the launch.

The Authority intensified its efforts to raise awareness and familiarise UAE citizens with its e-Services, launching an Online Platform for Processing VAT Refund Requests from UAE Citizens on Building New Residences on the official FTA website, in an effort to facilitate and expedite the process. Additionally, the Authority has launched the ‘Your
Voice is Heard’ initiative, which includes new services that offer UAE nationals new, broader, and more diverse sources of information regarding procedures to recover the VAT they incurred on building their new residences via the quick and user-friendly e-Services portal on the FTA official website. The initiative included four services that aim to raise the target audience’s awareness.

The ‘Virtual Session’ is a weekly interactive virtual workshop that allows UAE citizens to receive consultations and clarifications about the VAT refund process. In addition, the initiative offered a ‘Personal Assistant’ service, where applicants can book an appointment to communicate directly with FTA employees about the refund process and
the legal requirements for VAT incurred on building new residences for Emirati nationals, allowing them to expedite the procedures.

The initiative also provided a series of remote, web-based interactive sessions to gauge citizens’ feedback, remarks, suggestions, and preferences regarding the VAT refund process for UAE nationals on building new residences. In addition, the initiative offered a series of videos and a newsletter titled ‘VAT Refund on UAE Nationals Building New
Residences’ published on social media channels and via SMS. The content will explain the VAT refund procedures for UAE nationals building new residences, from submitting the request along with the required documents to receiving the refunded amount in the applicant’s bank account.

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